NetSuite Reports Robust Q1 Sales Growth, Plans E-Commerce App Company Acquisition


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Several recent analyst reports have questioned NetSuite's stock valuation given its continuing losses.

"We think the financial results we delivered in Q1 provide the proof that the investments we are making in our strategy of bringing the power of integrated, cloud-based business applications to companies of all sizes are paying off for our customers, our employees and our shareholders," Nelson said.

NetSuite added more than 350 new customers in the first quarter and recorded a record number of deals worth more than $250,000, Nelson said, although he did not disclose the actual number.

NetSuite also disclosed Thursday that Hewlett-Packard has deployed NetSuite's OneWorld applications for business management within its $5 billion software division. "It was a great win," Nelson said, noting that HP is "a big SAP shop."

NetSuite expects revenue in the current second quarter to be in the range of $170 million to $172 million, Chief Financial Officer Ron Gill said during the conference call with financial analysts. For all of 2015, the company is forecasting revenue in the range of $715 million to $725 million.

PUBLISHED APRIL 23, 2015
 


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